Buying an apartment in Bhopal likely to be cheaper

The central valuation committee met in Bhopal on Thursday evening and approved the collector guidelines for 2013-14 with sources saying that the determination of market value of flats/apartments in multi-storey buildings will now be done on the basis of "built up area" instead of "super built up area".

Sources said the rates have been increased on an average from 5 to 20% in various parts of Bhopal, compared to the current collector guideline rates. In some prime locations, however, the rates might go up to 60%, they added.

For the layman, getting a flat will be comparatively cheaper now. There were objections earlier that "super built up area" was nothing but charging the common man of the common areas and services in any colony or multistorey building like parking, staircase, open lawns, etc. Sources said this issue has been addressed now.

The central valuation committee met under the chairmanship of inspector general (registration) Deepali Rastogi.

According to officers in district registrar office, after they get the copy of the approved collector guidelines, it would be signed by the collector of Bhopal for its implementation from April 1.

Overall, 71 objections and suggestions had come from different quarters, based on which the district valuation committee met on March 20 and made some changes.

The proposed changes were sent to the central valuation committee for the final nod after which the rates as per the new collector guidelines would be applicable from April 1. This year, the issue of valuation of flats came into prominence and accordingly the district valuation committee also made some suggestions on March 20. On the same day, the division bench of state high court had issued notice to the state government, inspector general stamps, collector Bhopal and district valuation committee (DVC) on a petition challenging determination of market value of flats/apartments in multistorey buildings on the basis of “super built up area”. It issued interim direction to the collector and district valuation committee for considering and deciding the objections filed by the petitioners regarding finalising the market value guidelines for 2013-14.

The interim directions came in a petition filed by Neeraj Boolchandani and Muskan Memorial Trust, which challenged the constitutionality of the concept of “super built up area” as being contrary to the orders of the Supreme Court and contrary to the applicable rules.

According to the counsel for the petitioner Siddharth Radhelal Gupta, the Trust had approached the high court in the backdrop of provisions under the market value guidelines, 2013 mandating that the market value of flats/apartments for any sale transaction would be determined on the basis of “super built up area” in the schedules. “We had initially filed objections pointing out that in effect super built up area is nothing but charging the common man of the common areas and services in any colony or multistorey building. The Trust had pointed out that this charging of extra amount and making it compulsorily sellable was contrary to the directives of the Supreme Court in the recently decided matter relating to Maharashtra Apartment Act where it had been said that common amenities and facilities are non-transferable,” he said.